{
  "id": 14109363,
  "title": "Krait Critical Minerals closes private placement for $1.73m",
  "url": "https://urgent.news/2026/10/13/krait-critical-minerals-closes-private-placement-for-1-73m",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-13T03:12:44.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/company-news/krait-critical-minerals-closes-private-placement-for-173m-93CH-4945341"
  },
  "original_language": "en",
  "account": "VANCOUVER - In a private placement that closed on October 9, Krait Critical Minerals Corp. successfully raised a total of $1,725,824.25 through three tranches, according to a press release. The company offered 285,000 common shares at $0.75 each for the final tranche, which generated gross proceeds of $213,750. No finder’s fees were associated with this particular tranche. Across all three tranches, Krait issued a combined 2,301,099 common shares. The initial two tranches were completed on September 25 and October 4, 2026, respectively. The company intends to utilize the net proceeds for exploration at its Goldbar Spider Lake project in Ontario, assessment of Washington State antimony interests via Nevada Hills Antimony LLC, and maintenance of working capital and corporate expenses. Krait's CEO and Director, Oscar Mendoza, expressed that the additional financing would enable the company to progress its exploration objectives and investigate opportunities within its portfolio. The shares distributed in all three tranches, along with finder’s warrants from the first two tranches, are subjected to a statutory hold period of four months and one day from their issuance dates, subject to any applicable Canadian Securities Exchange restrictions. Krait Critical Minerals is a Canadian mineral exploration company with a focus on the Goldbar Spider Lake Project in Ontario’s Thunder Bay Mining Division, which encompasses 3,636 hectares and 148 mining claims. The company also holds an option to acquire a 100% interest in the project, subject to a 3% net smelter return royalty. In September 2026, Krait acquired Nevada Hills Antimony LLC, which possesses contractual interests in the Bales Antimony Project and Antimony Bell Project in Washington State.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}